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Pittsburgh Bank Closes After Cashier Defaults PITTSBURG, Feb. 13-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park Bank, one of the leading financial institutions of the east end was closed this morning. It was announced that P. G. Camerson, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposit of $2,235,859.
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PITTSBURGH BANK CLOSES Action Follows Arrest of Cashier, Charged With Embezzling $250.000 of Its Funds. Pittsburgh, Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park bank, one of the leading financial institutions of the east end, was closed this morning. It was announced that P. G. Camerson, state bank examiner, has been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. According to the police, Swartz attempted to commit suicide shortly before the arrival of the officers at his home. He is in a serious condition.
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Erzberger to Demand Recognition of Berlin Government at Treves Pittsburgh, Pa., Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park Bank, one of the leading financial institutions of the east end, was closed this morning. It was announced that P. G. Camerson, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. Swartz Attempts Suicide According to the police, Swartz attempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city. The officers were kept waiting several hours until he regained consciousness before the warrant, charging defalcation was served. He was reported in a serious condition in his home today under police guard. The bank, which was regarded as one of the strongest in the city, was closed by order of the State Banking Department. A statement issued by E. C. Chalfant, president, said the amount missing comprised between $70,000 and $80,000 in cash and $170,000 in unauthorized notes. He said there would be little loss to depositors. Cameron issued a statement this afternoon declaring that investigation so far had revealed no wrong doing by the bank's directors. Depositors Gather at Doors Several hundred depositors gathered at the bank's doors at 10 o'clock this morning after a notice'l had been posted announcing that only persons indebted to the bank would be admitted. Police reserves were called, but up to noon the steadily increasing crowd had caused no disorder,
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CHARGE BANKER WITH TAKING $250,000 OF FUNDS Pittsburgh, Feb. 13.-With the arrest of J. F. Swartz. cashier, charged with embezzling $250,000 of its funds, the Park bank, one of the leading financial institutions of the east end, was closed this morning. It was announced the state bank examiner had been reported receiver. The bank's statement on January 31 showed deposits of $2,235,850. Several hundred depositors gathered at the bank doors. Police reserves were called, but up to noon the crowd had caused no disorder. According to police reports, Swartz attempted suicide when officers arrived at his home. He is reported in a serious condition. The bank was closed by the state banking department. A statement issued by the president of the bank said the amount missing comprised between $75,000 and $80,000 in cash and $180.000 in unauthorized notes. He said there would be little loss to depositors.
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BANK CLOSED THIS MORNING Had Deposits of Over Two Millions, but an Employe Who is Alleged to Have Helped Himself. [United Press Leased Wire Service.] PITTSBURGH, Pa., Feb. 13.-The Park bank of Pittsburgh, with deposits totalling more than $2,225,000, failed to open its doors today. Bank officials announced that the institution had been closed by orders of P. T. Cameron, state bank examiner. Defalcation on the part of an employe is alleged to have been the reason for the bank's closing. E. C. Chalfant, president, and the bank directors issued a statement which declared that "embezzlement, abstraction and wilful misapplication of moneys, funds and credits of the bank," by J. S. Swartz, cashier, had "impaired the capital of the bank to such an extent as to make it impossible to longer continue business." Swartz, who was a majority owner of the capital stock in the bank, has admitted that "he alone" is responsible for conditions which have caused the bank's closing, the statement said. Information has been made against Swartz charging him with defalcations, the directors announced. State Bank Examiner Cameron, who is acting as temporary receiver, issued a statement exonerating the bank directors. Cashier Arrested. PITTSBURGH, Pa., Feb. 13.-Charged with embezzlement of $80,000, J. S. Swartz, cashier of the Park bank of Pittsburgh, which was closed today by the state bank examiner, is in the Mercy hospital here in an unconscious and delirious condition. Swartz was arrested at his home upon charges preferred by the bank directors. The police found him in bed suffering from a mental breakdown and unconscious, it was stated. Swartz was removed to the horoial, where hé is being closely guarded. When the news that the bank had closed its doors had spread. several hundred depositors gathered in front of the institution. Police reserves were rushed to the scene but no disorder was threatened at any time. The bank was regarded as one of the strongest in the city. It is declared that among its depositors are numbered some of Pittsburgh's wealthiest citizens.
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HUGE BANK THEFT CHARGED-BANK CLOSED J. F. Swartz of Park Bank, Pittsburg, Has Been Arrested-Receiver for the Bank Has Been Appointed. Pittsburg, Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park bank, one of the leading financial institutions of the east end, was closed this morning. It was announced that P. G. Camerson, state bank examiner, had been appointed receiver. The bank's statement on Jan. 1 showed deposits of $2,235,859.
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PITTSBURG BANK CLOSED. Cashier Arrested on Charge of Embezzling $250,000. PITTSBURG, Feb. 13. With the arest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds. the Park bank of this city was closed this mornng. It was announced that D. G. Cameron, state bank examiner, had been apoointed receiver. The bank's statement in Jan. 1 showed déposits of more than 2,000,000.
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CASHIER WRECKS PITTSBURGH BANK PITTSBURGH. Feb. 13.-The Park Bank of Pittsburgh, with deposits totalng more than $2,225,000 failed to open its doors today. Bank officials announced that the bank had been closed by the orders of P. T. Cameron. the State bank examiner. Blames Cashier. E. C. Chalfant, president, and the bank directors issued a statement which declared that "embezzlement, abstraction and willful misappropriation of moneys, funds-and credits of the bank" by J. S. Swartz, cashier, had "impaired the capital of the bank to such an extent as to make It impossible to longer continue business. Swartz, who was a maajority owner of the capital stock in the bank, has admitted that "he alone" is responsible for conditions which have caused the bank's closing, the statement said. Information has been given against Swartz charging him with defalca. tions, the directors announced. State Bank Examiner Cameron, who is acting as temporary receiver, issued a statement exonerating the bank directors of any blame in connection with the bank's failure,
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BIG BANK CLOSED IN PITTSBURGH AND CASHIER ARRESTED Officer Accused of Embezzling $250,000 of Institution's Funds. PITTSBURGH Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $230,000 of its funds, the Park Bank. one of the leading financial institutions of the East End, was closed this morning. It was announced that D. G. Camerson, State bank examiner. had been appointed receiver. The bank's statement on Jan. 1 showed deposits of $2,235,850. According to the police, Swartz attempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city. The officers were kept waiting several hours until he regained consciousness before the warrant, charging defalcation. was served. He was reported in a serious condition in his home to-day under police guard. The bank, which was regarded as one of the strongest in the city, was closed by order of the State Banking Department. A statement issued by E. C. Chalfant, President. said the amount missing comprised between $70,000 and $80,000 in cash and $170,000 in unauthorized notes. He said there would be little loss to depositors Several hundred depositors gathered at the bank's doors at 10 o'clock this morning after D. notice had been posted announcing that only persons indebted to the bank would be admitted. Police reserves were called but up to noon the steadity increasing crowd had showed no disorder.
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CASHIER'S PILFERING BRINGS CLOSING OF BANK AT PITTSBURGH PITTSBURGH. Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park Bank. one of the leading financial institutions of the East End, was closed this morning. It was announced that D. G. Cameron, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. According to the police, Swartz attempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city. The officers were kept waiting several hours until he regained conscousness before the warrant charging defalcation was served. He was reported in a serious condition in his home today under police guard. The bank. which was regarded as one of the strongest in the city. was closed by order of the state banking department. A statement issued by E. C. Chalfant. president, said the amount missing comprised between $70,000 and $80,000 in cash and $170,000 in nauthorized notes. He said there would be little loss to stockholders. Cameron issued a statement this afternoon declaring that investigation SO far had revealed no wrongdoing on the part of the bank's directors. Several hundred depositors gathered at the bank's doors at 10 o'clock this morning after a notice had been posted announcing that only persons indebted to the bank would be admitted. Police reserves were called, but up to noon the steadily increasing crowd had caused no disorder. When the crowd learned of Swartz' arrest many persons left the bank and went to the cashier's home, 5900 Stanton avenue. A cordon of police was thrown around the house as a precau5 tion. Receiver Cameron was authority for the statement that Swartz had attempted to kill himself last night when he learned the state examiner was workmg on the backs. Swartz was removed to a hospital under police guard this afternoon. He was delirious and his condition was reported critical. Swartz secured controlling interest in the bank last spring by purchase of the stock of the president, vice president and three directors. Swartz was arrested on three informations charging perjury. fraudulent entry and embezzlement. 11 was specitically charged that he swore falsely on December 31. 1918. to certain financial records of the bank's condition, which statement is required by law.
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$80,000SWINDLE WRECKS BANK J. S. Swartz, Cashier, Is Charged with Embezzlement by Directors. Pittsburgh, Pa., Feb. 13.-Charged with embezzlement of $80,000. J. S. Swartz. cashier of the Park Bank. of Pittsburgh, which was closed today by the State bank examiner. is in the Mercy Hospital here in a delirious condition. Swartz was arrested at his home upon charges preferred by the bank directors. The police found him in, bed suffering from a mental breakdown and unconscious, it is stated. Swartz was removed to the hospital, where he is being closely guarded. Exonerates Directors. With news that the bank had closed had spread, several hundred depositors institution. gathered Police in reserves front of were the rushed to the scene, but no disorder was threatened. R. C. Chalfant, president. and the bank directors issued a statement which declared that "embezzlement, abstraction and wilful misappropriation of moneys, funds and credits of the bank" by J. S. Swartz. cashier, had "impaired the capital of the bank to such an extent as to make it impossible to longer continue business." Swartz, who was a majority owner of the capital stock in the bank, has admitted that "he alone" is responsible for conditions which have caused the bank's closing, the statement said. Information has been filed against Swartz charging him with defalcations, the directors announced. State Bank Examiner Cameron, who is acting as temporary receiver, issued a statement exonerating the bank directors.
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PITTSBURG CASHIER ACCUSED OF $250,000 BANK EMBEZZLEMENT Pittsburg, Pa., Feb. 13.-With the arrest of J. F. Swartz. cashier, charged with embezzling $250.000 of its funds. the Park Bank, one of the financial institutions of the East End, was closed this morning. It was announced that P. G. Camerson, state bank examiner had been appointed receiver. The bank's statement on Jan. 1 show deposits of $2,235,859. According to the police, Swartz attempted to commit suicide. He was reported in a serious condition in his home today under police guard.
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ALLEGED EMBEZZLER KEPT UNDER GUARD Pittsburgh, Pa., Feb. 13.-J. S. Swartz, cashier of the Park Bank, charged with embezzlement of $250.000. is being closely guarded in a hospital here tonight. When he recovers he will face charges preferred by the bank officials of perjury and fraudulent entry, in addition to embezzlement. The bank has been closed by the state banking commission and State Examiner P. G. Camerson placed in charge. Swartz's alleged speculations are said to have amounted to more than $250,000. It is said the bank directors were aware of the shortage and gave him a chance to make good. When the officers went to arrest Swartz, he was found unconscious and it was reported he had tried to commit suicide. The rumor was later discredited when doctors announced that he was seriously sick.
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Washington, Feb. 13-Orders assigning 52 medical officers for duty with the American forces in Siberia, were issued today by the war department. The party, incluling seven majors, 19 captains and 26 lieutenants, will sail from San Francisco. New Orleans, Feb. 13.-Montgomery, Ala., was selected as the 1920 convention city and John D. Eldridge, of Gregory, Ark., was elected president of the Southern Cattlemen's association at the concluding session here today of the seventh annual convention of that organization. New York, Feb. 13.-Stock of the New York, New Haven and Hartford broke 3 points to lay upon announcement in Wall street that application had been made for a limited receivership for the road before federal Judge Cox, in connection with a long pending suit to recover $150,000,000 in behalf of certain stockholders. Franklin. Pa., Feb. 13.-Forty-five persons were injured when four coaches of the Pittsburg-Buffalo Express, northbound on the Pennsylvania railroad were derailed at St. George, 20 miles south of here. The cause of the accident was undeter mined. Railroad officials said none of the injured were seriously injured. Geneva, Wednesday Feb. 13.-The movement to exclude the central powers from the international Red Cross, was debated at a meeting of that organization held here today. President Ador, of Switzerland, was chairman of the meeting, which was attended by delegations from all countries which preferred charges of violations of Red Cross privileges by Germany. Basle, Feb. 13.-Two national democrats, 32 populists, 13 socialists, eight Jews and two Germans were elected to the Polish assembly, according to final results of the elections here in Poland, according to a Warsaw dispatch received here. Two women were included in the successful candidates. Pittsburg, Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park bank. one of the leading financial institutions of the East Eend, was closed this morning. It was announced that D. G. Camerson, state bank examiner, has been appointed receiver. The bank's statement on January 1 showed deposits of $$2,235,859. Santiago, Feb. 13.-As a result of anarchistic outbreaks and disorders on both sides of the Chile-Argetina frontier, the Chilean foreign office is preparing a convention with Argentina relative to frontier police and extradition.
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BANK CASHIER CHARGED WITH EMBEZZLING $250,000 Pittsburgh, Feb. 13.-With the arrest of J. F. Swartz, cashier charged with embezzling $250,000 of its funds, the Park bank, one of the leading financial institutions of the east end, was closed this morning. It was announced that D. G. Cameron, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859.
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Big Eastern Bank Closes When Cashier is Arrested Pittsburgh. Pa., Feb. 13.-With the arrest of J. S. Swartz, cashier, charged with embezzling $250,000 of its fur ds, the Park bank one of the leading financial instrutions of the east end. was closed this morning. It was announced that P. G. Cameron, state bank examined, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. According to police, Swartz attempted to commit suicide shortly before officers arrived at his home. He was reported in a serious condition in his home today under police guard.
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THEFT CLOSES BIG PITTSBURG BANK Cashier of Park, Accused of Embezzling $250,000 Is Found Senseless. DEPOSITS ARE $2,400,000 Prisoner Is the Largest Stockholder-Held in Hospital Under Guard. PITTSBURG, Feb. 13. - J. S. Swartz, cashier of the Park Bank, is being closely guarded by a constable in a hospital to-night. When he recovers sufficiently he will be taken before an Alderman to face charges preferred by the bank officials of perjury, fraudulent entry and embezzlement. In the meantime the bank is closed by order of the Pennsylvania State Banking Commission and D. C. Cameron; State Examiner, is in charge of its affairs. Swartz's alleged peculations are said to have amounted to more than $250,000. Directors of the bank are optimistic and believe the doors will soon be reopened and every depositor paid in full. Swartz was found unconsclous when officers called at his home to arrest him, and this gave rise to the report that he had tried to commit suicide. This rumor was discredited this afternoon, when it was announced that he was really ill and in no condition to go to jail. Alderman J. J. Kirby said to-night he would demand $40,000 ball from Swartz when the hearing is held. It is said that the directors of the bank were aware of the shortage several days ago and gave Swartz a chance to make good, which he promised to do. He falled and information was laid against him by E. M. Diebold, vicepresident of the bank. The accused man was the largest stockholder in the institution. According to President E. C. Chalfant the bank has approximately $2,400,000 deposits and 12,000 depositors.
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STATE BANKING COMMISSIONER INPITTSBURGH John S. Fisher Will Assist in Handling Affairs of Park Bank Pittsburgh, Feb. 15.-E. C. Chalfant, president of the Park Bank, which closed its doors Thursday morning following the arrest of J. S. Swartz, cashier, charged with peculations amounting to more than $250,000, reiterates his former statement that depositors will probably not lose a cent by the alleged defalcation. The depositors are insisting that the bank. be reopened and this, officials say, will be done in a short time, as soon as the state banking officers have examined the books thoroughly. The question of appointing a permanent receiver will not be decided until Peter G. Cameron, state examiner, has made his report. Banking Commissioner John C. Fisher and Deputy Attorney General B. J. Myers, of Harrisburg, arrived today to assist in handling the bank's affairs. President Chalfant stated tonight that the depositors of the bank would not under any circumstances lose more than $100,000 and probably nothing at all.
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REPORT $250,000 EMBEZZLED. J. F. Swartz, Pittsburg, Penn., Cashier, Arrested-Bank Closed Doors. Pittsburg.-With the arrest of J. F. Swartz, cashier, charged with embez. zling $250,000 of its funds, the Park bank, one of the leading financial in. stitutions in the East End, was closed. It was announced that D. G. Camerson, state bank examiner, had been appoint. ed receiver. The bank's statement on Jan. 1 showed deposits of $2,235,859. According to the police Swartz at. tempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city.
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Bank's Losses More Than Expected Pittsburgh, March 19.-The losses sustained by the Park Bank through the alleged manipulations of Cashier J. S. Swartz are so much greater than the $390,000 estimated and the assets are so much below $150,000 as to make its reopening impractical, the depositors' committee was told by Peter G. Cameron, temporary receiver and State Bank Examiner. and State Banking Commissioner John S. Fisher determined to appoint a permanent receiver to liquidate the affairs of the institution,